Tesla’s stock is headed for its worst month, quarter and year on record

The stock dropped an additional 8% on Tuesday. Musk's electric car company is days away from closing out its worst month, quarter and year on record and has moved past Meta to become the worst performing stock in the tech sector.

The latest drop comes after the Wall Street Journal reported thatTesla will continue a week-long production halt at itsShanghai facility, facing a fresh onslaught of Covid cases within its Chinese workforce

According to the report, when the plant reopens in January, it will do so for 17 days. A new wave of Covid infections has hit the city.

The company's share price has fallen from their record high. The decline in the stock is more pronounced than the decline in the stock. Ford is down 45% and General GM is down 42%. In the year since its IPO, the company has fallen only one time.

For the month of December, it was the worst month in the company's history, as it fell more than 25% in a single month. In the fourth quarter, the stock is down more than it did in the second quarter, which was its worst quarter on record.

The discount for buyers of the Model 3 and Model Y electric vehicles was increased last week. In mainland China, the automaker offered incentives for December auto sales.

Musk has continued to flirt with controversy, welcoming back previously banned users, enabling the continued release of internal messages related to the company's past handling of Covid and election-related content, and flip-flops on policy changes.

Companies have paused or stopped advertising on the platform.

Musk is selling a lot ofTesla stock Musk told his millions of followers on social media that he had "no further TSLA sales planned" after April 28.

The majority of Musk's wealth is accounted for by the company. According to Forbes, Musk lost his title as the world's richest person due to the extended selloff.

Craig Irwin, an analyst atRoth Capital who has a hold rating on the stock and an $85 price target, thinks that he needs to focus on operations.

At mid-day on Tuesday, the company's stock price was $112.

CNBC had a contributor to this report.

The man needs to focus on operations at the company.